Embolization Coil Market to Record USD 209.08 Mn Growth | BALT Group, Boston Scientific Corp., and Cardinal Health Inc. emerge as dominant players | Technavio

• Total Pages: 120
• Companies: 10+ – Including BALT Group, Boston Scientific Corp., Cardinal Health Inc., China Grand Pharmaceutical and Healthcare Holdings Ltd., Cook Group Inc., Johnson and Johnson Inc., Medtronic Plc, Shape Memory Medical Inc., Stryker Corp., and Terumo Corp.
• Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape; COVID impact & recovery analysis
• Segments: Deployment (detachable coil and pushable coil) and Application (neurology, oncology, peripheral vascular disease, cardiology, and others)
• Geographies: North America, Europe, Asia, and ROW

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According to the recent market study by Technavio, the Embolization Coil Market Size is expected to increase by USD 209.08 million from 2020 to 2025. However, the growth momentum is expected to decelerate at a CAGR of 4.48% during the forecast period. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.

North America will register the highest growth rate, occupying 40% of the global market share. The US is the key market for embolization coil in North America. However, the market growth in this region will be slower than the growth of the market in Asia.

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Vendor Insights-

The embolization coil market is fragmented due to the presence of many regional and global vendors offering a wide range of embolization coils. This is increasing the competition in the market, which is driving some vendors to focus on mergers and acquisitions to expand their product portfolios and customer base. Vendors are also focusing on adopting the latest technologies to introduce innovative products and gain an edge over their rivals.

BALT Group: The company offers coil embolization through its Optima coil system products such as complex 18, complex 10 standard, complex 10 soft, etc. In June 2021, the company completed the acquisition of its Italian distributor AB Medica Italia, which would allow to sell products directly in the country.

Boston Scientific Corp.: The company offers coil embolization through its products such as interlock-35, interlock 18, and IDC-18 soft. In August 2019, the company acquired BTG plc, which develops and commercializes products used in minimally invasive procedures targeting cancer and vascular diseases, as well as specialty pharmaceuticals.

Cardinal Health Inc.: The company offers Cardinal Health branded medical, surgical, and laboratory products in the US, Canada, Europe, Asia, and other markets. In March 2021, the company and FourKites announced a global partnership to enhance the tracking of medical equipment, pharmaceutical products, first-aid supplies, and personal protective equipment (PPE) in transit to hospitals, pharmacies, and other care facilities worldwide.

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Regional Market Outlook

The embolization coil market growth in North America will be significant during the forecast period. The growth of the embolization coil market in North America can be attributed to the presence of a well-established healthcare infrastructure, availability of skilled professionals, and the presence of favorable reimbursement policies. The report also covers a detailed analysis of the growth of the market across Europe, Asia, and ROW. Germany, Japan, the UK, and China are identified as prominent markets for embolization coils.

Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.

Latest Drivers & Trends Driving the Market-

• Embolization Coil Market Driver:
• Increasing incidence of aneurysms:

The prevalence of aneurysms is increasing significantly across the world. For instance, in the US, the annual brain aneurysm rupture rate is 9 out of 100,000 population. The prevalence of the condition is more among women and is high among smokers and patients with high-blood pressure, high cholesterol, arterial defect, and aortic dissection conditions. Thus, with the increasing prevalence of aneurysms, the need for diagnosis at an early stage and regular monitoring for treating, controlling, and limiting the disease has become essential. This is driving the demand for embolization coils, thereby driving market growth.

• Embolization Coil Market Challenge:
• Technological advances:

Emerging demands from end-users such as hospitals, ASCs, clinics, and diagnostic centers have been encouraging vendors to introduce innovative products backed with the latest technologies. Some of the recent technological advancements include the development of 3D embolization coils, miniature coils, hydrocoils, and embolization coils with integrated deployment mechanisms. Such technological developments are expected to increase sales and fuel market growth.

Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.

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